Free Trial

Late Equity Roundup: Mildly Lower on Week


Remains Above The 50-Day EMA

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
  • USD/ZAR trades -0.43% lower this morning, looking heavy as more positive risk sentiment filters through from the APAC session.
  • This follows hints from the PBoC that there may be more room for RRR cuts in Q1, supporting firmer equities in the Asia session.
  • The cross fell sharply yesterday on the back of lower UST yields and firmer commodities with PGMs rallying (XPT +4.21%) – boosting SA’s terms of trade. CPI data came in firmer than expected, bolstering expectations for more potential SARB hikes in 2022.
  • Telkom softening its stance on blocking the spectrum auction is a positive development, but it will need to give more ground before markets get too upbeat.
  • US jobless & Continuing claims are the main focus for the day, while a two-day NEC meeting kicks off on the local front.
  • USD/ZAR should continue to trade in line with global risk sentiment and UST yields, with the 100dma being retested again this morning following yesterday’s bearish engulfing candle pattern.
  • Next major support comes in at 15.09-14.90, with the 200dma rising at 14.80. Intraday Sup1: 15.2660, Sup2: 15.2120, Res1: 15.3914, Res2: 15.4435
  • Citi SA TOT

MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.